Kodiak Gas Services dips as top holder EQT to carve stake

Kodiak Gas Services

08/09/2025 11:57

** Shares of Kodiak Gas Services KGS.N down 1.2% premarket to $34.88 after secondary offering news

** Compression services provider to oil and gas industry announces Swedish private equity firm EQT AB EQTAB.ST to offload 10 mln shares

** Offering would take EQT's holdings to ~19.76 mln shares, reducing its stake from 34.3% to 22.8%, per the prospectus filing

** The Woodlands, Texas-based KGS has ~86.68 mln shares outstanding as of Sept 3 for ~$3.1 bln market cap

** Goldman Sachs is sole underwriter for the offering

** KGS shares on Fri closed down 3.3% at $35.32, down 13.5% YTD

** 11 of 12 analysts rate KGS "strong buy" or "buy", 1 rates "hold" and median PT is $44, LSEG data shows

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@thomsonreuters.commailto:lance.tupper@tr.com 1-646-279-6380))